Banco Inbursa Provides $35M Refinance Loan For Industrial Property In Mott Haven
FINANCED
$35,000,000
New York
See Similar DealsIndustrial25,962 SF
Financed 07/10/2021
FINANCED
Banco Inbursa Provides $35M Refinance Loan For Industrial Property In Mott Haven
325 Exterior Street, West Bronx, Bronx, NY, USA
See Similar DealsIndustrial25,962 SF
Financed 07/10/2021
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$1,348
Total Square Footage:25,962 SF
Transaction Type:Loan
The industrial property located at 325 Exterior Street in Mott Haven has been involved in a loan transaction. The property, spanning 25,962 square feet, was refinanced for a loan amount of $35,000,000 by Banco Inbursa.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $35,000,000
- Address: 325 Exterior Street
- Market: Mott Haven
- Lender: Banco Inbursa
The loan was requested by the property's landlord, David Lichtenstein & Mitchell Hochberg of Lightstone Group. The refinance transaction allows them to secure the necessary funds while leveraging the value of their industrial asset in Mott Haven.
Players
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$35,000,000.00
Monthly NOI$233,333.33
Monthly Debt Service$221,223.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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